Deep-pocketed investors have adopted a bearish approach towards ON Semiconductor ON, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ON usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for ON Semiconductor. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 6 are puts, totaling $280,051, and 3 are calls, amounting to $172,395.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $85.0 for ON Semiconductor over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in ON Semiconductor's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to ON Semiconductor's substantial trades, within a strike price spectrum from $70.0 to $85.0 over the preceding 30 days.
ON Semiconductor Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BULLISH | 01/19/24 | $75.00 | $89.2K | 3.9K | 14 |
| ON | CALL | SWEEP | BEARISH | 01/17/25 | $70.00 | $83.1K | 424 | 51 |
| ON | PUT | SWEEP | BULLISH | 01/12/24 | $75.00 | $51.1K | 1.6K | 1.0K |
| ON | PUT | TRADE | BULLISH | 01/26/24 | $74.00 | $50.5K | 840 | 201 |
| ON | CALL | TRADE | BEARISH | 01/17/25 | $85.00 | $47.0K | 1.9K | 44 |
About ON Semiconductor
Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.
Having examined the options trading patterns of ON Semiconductor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is ON Semiconductor Standing Right Now?
- Trading volume stands at 890,012, with ON's price down by -1.38%, positioned at $75.97.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 26 days.
Professional Analyst Ratings for ON Semiconductor
In the last month, 1 experts released ratings on this stock with an average target price of $85.0.
- An analyst from Stifel has decided to maintain their Hold rating on ON Semiconductor, which currently sits at a price target of $85.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for ON Semiconductor, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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